Bitcoin
Why Fidelity says Bitcoin will rise again soon – DL News
- Bitcoin volatility is at historic lows.
- The top crypto could soon make a big upward move, Fidelity predicts.
- Bitcoin’s volatility has been decreasing over the years as the asset matures.
Bitcoin is traditionally seen as a risky asset, but its volatility is not constant – it ebbs and flows as the market enters manic phases and cools down again.
What’s more, the main cryptocurrency’s volatility has reached historic lows over the past 12 months, even though its price has reached an all-time high.
It’s a sign that Bitcoin could soon experience another massive price surge, Fidelity Investments research analyst Zack Wainwright wrote in a May 1 article. report.
Studying Bitcoin Volatility
The prediction comes as Bitcoin recovers from the wobble that saw it fall below $57,000 mark last week. It is currently trading above $63,600.
With volatility reaching historic lows, traders should prepare for Bitcoin to become more valuable – especially as there are little to no signs of trading mania.
“Investors have historically experienced large price increases over short periods of time as historic price highs have been revisited and subsequently broken under these circumstances,” Wainwright said.
Price appreciation tends to culminate with Bitcoin volatility rising to high levels, Fidelity said, indicating that speculation has become rampant and the market is overheated.
The exception, Fidelity noted, was the 2021 bull market.
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“Global events like the Covid-19 pandemic can massively change the trajectory of any market, including Bitcoin,” said Wainwright.
The report also said that Bitcoin’s volatility was falling over time.
In fact, Bitcoin has been less volatile than some big tech stocks — such as chipmaker Nvidia, electric car maker Tesla and Facebook owner Meta Platforms — over the past year.
Bitcoin’s decreasing volatility shows the asset is maturing in the eyes of investors, Fidelity said. And that may be why he managed to climb to a new all-time high in March maintaining low volatility.
Bitcoin was almost half as volatile in 2024, costing $60,000, compared to 2021 at the same price, Wainwright said.
Another asset that behaved similarly? Gold.
Gold’s volatility was nearly twice as high in 1980 as Bitcoin’s in April 2024, Fidelity said.
“Once gold became a recognized asset class and the market settled into a long-term price range, volatility also decreased,” Wainwright said.
Crypto Market Movers
- Bitcoin fell 1% in the last 24 hours, trading at $63,600.
- Ethereum fell 3.6% to trade at just over $3,000.
What are we reading
Tom Carreras is markets correspondent for DL News. Have a tip about Bitcoin? Get in touch at tcarreras@dlnews.com.
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
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At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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